Element Solutions Inc. $ESI Shares Sold by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets LLC cut its Element Solutions holdings by 20.6% in the second quarter, selling 35,182 shares and retaining 135,300 shares worth approximately $6.46 million. Institutional investors and hedge funds collectively own 92.32% of ESI.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $43.50. Recent ratings included buy and outperform recommendations, with targets as high as $52.
• Element Solutions beat quarterly expectations, reporting $0.47 EPS versus $0.43 expected and revenue of $977.9 million, up 56.4% year over year. The company also pays a quarterly dividend of $0.08, representing a 0.8% annual yield.

Oliver Luxxe Assets LLC reduced its holdings in Element Solutions Inc. (NYSE:ESI - Free Report) by 20.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 135,300 shares of the company's stock after selling 35,182 shares during the quarter. Oliver Luxxe Assets LLC owned approximately 0.06% of Element Solutions worth $6,461,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Assetmark Inc. raised its stake in Element Solutions by 151.0% during the first quarter. Assetmark Inc. now owns 778 shares of the company's stock worth $27,000 after acquiring an additional 468 shares during the period. Los Angeles Capital Management LLC acquired a new position in Element Solutions in the fourth quarter valued at approximately $28,000. NewEdge Advisors LLC boosted its stake in Element Solutions by 57.4% in the first quarter. NewEdge Advisors LLC now owns 949 shares of the company's stock valued at $32,000 after acquiring an additional 346 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Element Solutions during the third quarter valued at approximately $47,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Element Solutions during the third quarter valued at approximately $49,000. 92.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ESI shares. BMO Capital Markets reissued an "outperform" rating on shares of Element Solutions in a report on Tuesday, July 28th. Wall Street Zen upgraded Element Solutions from a "hold" rating to a "buy" rating in a research note on Monday, April 20th. UBS Group increased their target price on Element Solutions to $52.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Wolfe Research set a $47.00 target price on Element Solutions in a research note on Wednesday, July 29th. Finally, Truist Financial boosted their price target on shares of Element Solutions from $47.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $43.50.

Element Solutions Stock Performance

Shares of ESI stock opened at $37.94 on Friday. Element Solutions Inc. has a 12-month low of $22.86 and a 12-month high of $49.25. The firm has a market capitalization of $9.24 billion, a price-to-earnings ratio of 51.26, a price-to-earnings-growth ratio of 1.31 and a beta of 1.26. The business has a 50 day simple moving average of $41.25 and a 200 day simple moving average of $37.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.91 and a quick ratio of 2.11.

Element Solutions (NYSE:ESI - Get Free Report) last announced its earnings results on Monday, July 27th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.The firm had revenue of $977.90 million for the quarter, compared to the consensus estimate of $873.19 million. During the same quarter in the previous year, the business earned $0.20 EPS. The firm's revenue for the quarter was up 56.4% on a year-over-year basis. On average, equities research analysts anticipate that Element Solutions Inc. will post 1.81 EPS for the current year.

Element Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, June 1st. Element Solutions's dividend payout ratio is currently 43.24%.

Element Solutions Company Profile

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company's solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.

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